hard · Volume Price Analysis

In Coulling's framework, why does this specific combination qualify as an anomaly rather than validation, and what does it most likely indicate?

1. It is validation, not an anomaly: a wide down bar closing low simply confirms aggressive selling, and the low volume just means the move was efficient
2. It is an anomaly because wide downward spread implies heavy selling effort, yet low volume contradicts that effort — signaling a lack of genuine supply and a likely move higher
3. It is an anomaly because low volume on any down bar always means buyers are absent, confirming the decline will accelerate to new lows
4. It is validation because low volume on a down bar shows sellers met no resistance, proving that demand has been completely exhausted

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